Every prop firm term, defined.

A proprietary trading firm that funds traders with its own capital, usually after they pass an evaluation, and shares the profits.

A test set by a prop firm where you trade to a profit target without breaking rules like a daily loss limit or max drawdown, to earn a funded account. Learn more.

A trading account backed by a prop firm's capital, earned by passing an evaluation. You trade it under the firm's rules and split the profits. Learn more.

The share of profits you keep from a funded account, with the rest going to the firm. Splits like 80/20 or 90/10 are common, and many firms raise your share over time.

A withdrawal of profits from a funded account, paid by the prop firm under its payout rules.

Restarting a failed or breached evaluation, usually for a fee, to attempt it again.

A one-time fee some firms charge to activate a funded account after you pass the evaluation.

A firm program that raises your account size or contract limit as you hit profit and consistency milestones. Learn more.

The minimum number of days you must trade during an evaluation, or before a payout, so the firm sees consistency rather than one lucky session.

The drop from a peak in your account balance to a later low. Prop firms cap how much drawdown you can take before the account is breached.

A drawdown limit that follows your account's highest balance or equity as it rises, so the floor moves up with your profits. A pullback from a new high can breach it even while you're still up on the day. The exact calculation varies by firm.

A drawdown limit measured against a fixed level, often your starting balance or the previous session's closing balance, rather than your intraday peak.

The total loss from your account's high-water mark that a firm allows before the account is breached. It may be static or trailing depending on the firm.

The most you're allowed to lose in a single trading day before trading is stopped. Breaching it usually fails the account. Learn more.

A firm rule that caps how much of your total profit can come from a single day, often around 30 to 50 percent, so one outsized day doesn't carry the account. Breaching it can delay or deny a payout. The exact threshold varies by firm.

The profit you must reach during an evaluation to qualify for a funded account.

Holding opposite positions on the same instrument. Many firms ban hedging across accounts and treat it as a prohibited practice.

A firm rule that limits or blocks trading around high-impact economic releases.

Software that mirrors trades from one account (the lead) to one or more other accounts (the followers) automatically. Learn more.

The account you trade on directly in a copier. Its fills are mirrored to your follower accounts.

An account that receives copied trades from your lead account, sized to its own rules.

In Tradesyncer, a group of accounts under one lead, so you can run and separate strategies. A follower belongs to one group at a time. Learn more.

A per-account multiplier that scales the copied trade size, so a smaller account takes a fraction of the lead and a larger one scales up.

A Tradesyncer function that converts between E-mini and Micro E-mini contracts per account, so a standard-contract trade on a large account can copy as micros on a smaller one (for example ES to MES, NQ to MNQ).

A control that instantly closes every open position across all accounts in a copy trading group. Flatten All does the same across every connected account.

A control that locks an account during chosen sessions (for example Asia, London, New York) or a custom window, closing positions and cancelling orders when it triggers. Learn more.

The delay between an action and its result. For a copier, the time from the lead's fill to the follower's fill.

The difference between the price you expected on a trade and the price it actually filled at.

A standardized, exchange-traded agreement to buy or sell an asset at a set price on a future date. Index and commodity futures like ES, NQ, CL and GC trade on CME Group exchanges. Learn more.

Standard CME index futures (ES, NQ, YM) and their one-tenth-size micro versions (MES, MNQ, MYM). Micros let smaller accounts trade the same markets at lower risk per tick.

The smallest increment a contract moves, and the dollar value of that move. One ES tick is 0.25 points, worth 12.50 dollars per contract.

Regular Trading Hours (the main cash session) versus Extended Trading Hours (the overnight and pre or post-market session). Some firms limit overnight holding or treat the two differently.

The market-data connection, for example Rithmic or dxFeed, that streams prices to your platform and copier. Learn more.

A virtual private server, a rented always-on machine some copiers need to keep running. A cloud-based copier removes the need for one.

A trade's result expressed as a multiple of the risk you took. Risking 100 dollars and making 240 is a +2.4R trade. Learn more.

Maximum Adverse Excursion and Maximum Favorable Excursion: how far a trade moved against you and in your favor while it was open.

Profit and loss including realized and open positions and fees. Daily loss limits and profit targets are usually measured on net P&L.